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| Author: | Townsend, R.M. |
| Title: | Microcredit and mechanism design |
| Journal: | Journal of the European Economic Association
2003 : APR-MAY, VOL. 1:2-3. p. 468-477 |
| Index terms: | Credit Loans |
| Freeterms: | Mechanism design |
| Language: | eng |
| Abstract: | Individual microcredit loans are not necessarily simple fixed debt obligations, but rather may have contingencies and procedures suggested by the theory of mechanism design. Further, group or joint-liability lending may not be the single miracle cure practitioners claim nor operate the way the logic of a single theory might suggest. There are multiple theories, these theories can be distinguished in data on repayment rates, and the best-fit theory may vary with the environment. |
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